Ethereum Price Crash: What’s Behind the 36% Drop in Just 7 Weeks?
February 8, 2025
ETH $ 2,606.56 (-5.43%) 
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Ethereum’s market cap has plummeted 36% in seven weeks, significantly decreasing profitable ETH tokens.
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Negative investor sentiment and fear have driven increased selling, reducing trading volume, active addresses, and network transaction volume.
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Historical data suggests current market conditions may signal a price rebound, with large investors accumulating ETH.
Ethereum has been struggling, with its market cap plunging 36% in just seven weeks. It dropped from $360 billion on December 22, 2024, to $230 billion on February 8, 2025, wiping out a significant chunk of investor profits. Confidence in ETH has taken a hit, especially as it lags behind other major cryptocurrencies.
Market trends, technical indicators, and on-chain data reveal a complex picture – one that could hold clues about what’s next for ETH.
Santiment’s analysis shows that negative sentiment has increased selling pressure, with many retail traders offloading their ETH due to fear, uncertainty, and doubt (FUD). As a result, daily trading volume has dropped 20%, with only 15.2 million ETH traded on February 8, compared to the monthly average of 19 million.
Ethereum’s network activity has also declined, with active addresses and transaction volumes falling by 12% and 18%, respectively. This signals lower demand and participation in the network, adding to the bearish outlook.
Ethereum’s technical indicators also suggest further uncertainty. The Relative Strength Index (RSI) for ETH/USD is at 32, signaling an oversold market that could see a rebound. However, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, confirming the ongoing downtrend.
Meanwhile, widening Bollinger Bands indicate higher volatility, meaning ETH’s price could continue to swing. The cryptocurrency recently dipped to $2,140 before rebounding to $2,620 but remains 37% below its December high.
Despite the bearish signs, some analysts believe Ethereum could be nearing a turnaround. Crypto analyst Maxpain points out that Ethereum’s Network Realized Profit/Loss (NPL) metric suggests capitulation—a phase that has historically been followed by strong recoveries.
Additionally, whale transactions over $100,000 have been rising since late January. This could indicate that large investors are quietly accumulating ETH, potentially positioning themselves for a future rally. If this trend continues, Ethereum may be gearing up for a comeback.
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